OPEC warns of further oil cuts: sec gen

DAVOS, Switzerland (AFP)

Even 50 dollars did not guarantee a “decent income for our countries,” he said, adding: “I hope that the price will pick up… a 50-dollar price will not permit us to invest.”

Asked about further cuts by the cartel, he said: “If we still have some downward problems (of prices), OPEC will not hesitate to take some quantity out of the market.